Oil rises to record on concerns about Iran Crude oil rose to a record above $143 a barrel on Monday on speculation the dispute over Iran's nuclear program may disrupt supply from the second-largest OPEC producer. Pressure on Iran to end its uranium enrichment program and the falling value of the U.S. dollar may drive prices to $170 a barrel, the president of the Organization of Petroleum Exporting Countries, Chakib Khelil, said Saturday.
A yard sale can work wonders --The Cure for George W. Bush's Insanity By Mark Yannone Today, under the pretext of convincing Iran to give up its nuclear arms program, the United States federal government and some loonies in the one-bomb state of Israel are banging the war drums up and down the Persian Gulf and throughout their old media. We know that this is a reaction to Iran's unwillingness to denominate its oil sales in United States Federal Reserve Notes, a currency backed only by coercion and the unlawful use of deadly force. The corresponding reaction to threatening to bomb Iran is a rapid rise in the price of oil and everything that uses oil, from gasoline to groceries... So what is the solution to this madness? A Russian yard sale seems most reasonable. Russia needs to sell Iran a nice starter kit of nuclear bombs -- maybe two of each model -- with operating instructions.
Iraq opens bidding on 8 oil and natural gas fields Iraq opened international bidding for eight enormous oil and gas fields Monday, paving the way for investment in a nation with some of the world's largest petroleum reserves. On Monday, the Times reported that a small U.S. State Department team helped draw up contracts between the Iraqi Oil Ministry and the five major oil companies reportedly getting no-bid contracts. State Department spokesman Tom Casey confirmed a small number of U.S. advisers were providing "technical support" to the Iraqi Oil Ministry.
Romney tops McCain veep list — Surprising many Republican insiders, Mitt Romney is at the top of the vice-presidential prospect list for Sen. John McCain (R-Ariz.). But lack of personal chemistry could derail the pick. — “Romney as favorite” is the hot buzz in Republican circles …
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